S&P Market Analysis & Key Levels 07/23/17

Weekly Key Levels

Today’s S&P Market Analysis highlights some very important key levels. Price is close to a temporary top, and is ready for a drop. It will be a fun week, because we believe that we are a couple weeks away from this temporary top. There are a lot of analysts jumping on the bull market train, so that is usually a good sign of caution. If you are a proponent of Down Theory then you understand that. Warren Buffet said it best when he said, and I summarize, when there is blood in the streets profits are at hand, but when everyone is bullish and talking about stocks it is time to run.

Trading is all about learning from the past to predict the future. This is easier said than done for most people. If it were easy we would all be rich. A lot of times trading is like learning how to ride a bicycle everyday, and forgetting how every night in the beginning. To a master trader, however, trading is like breathing. A great symphony of moves to make a profit. Our analysis of the S&P tells us that it is not time to go all-in, so this week becomes more important. We get to watch the market movie play out, and depending on what happens we can then make trades.

The key levels outlined in the above video give us very good targets. We are looking for price to reach a topping point in the next few weeks. Price should give some nice daytrades as it chops. Trading is about minimalism. Less is definitely more here. We are like tigers in a jungle. Tigers can wait days to eat, so we too must be like that with out trades.

Leo Tolstoy’s philosophies have been discussed for centuries upon centuries, because they are highly insightful. Trading is all about achieving greatness and being able to increase the quality of your life, so if you are striving for success in your trading and are unable to obtain it then give us a call for a free consultation.

If you enjoyed this analysis we have a trading course that goes over analysis and how to spot trade setups off of that check out our Trading edge course.

Entreprenuer, Trader and Philanthropist

Matt Dye, Founder of ABusinessWithTrading, is a professional trader who specializes in trading price action. His mission is to empower traders through education, and every month attracts readers across 50+ countries. To discover more about Matt’s Price Action Strategies, visit his Trading Courses page.